Reportocean.com have announced the addition of a new report titled "Global Hardware Security Module Market Growth 2019-2024"
Delhi, Delhi/NCR -- (SBWIRE) -- 11/25/2019 -- Hardware security module, aka HSM, is a form of management solution that offers protection against the prevailing and evolving data threats to private keys and certificates. The device requires certification of international recognized standards in order to offer assurance in terms of product design and implementation.
The global HSM market is anticipated to be flooded with growth opportunities in the forthcoming years, especially due to the advancing technological landscape. The advancement in the technological sphere has resulted in an upsurge in the demand for information systems security solutions across the globe and is subsequently expected to boost the HSM market. The prevalent technological evolution has led to the rise in the adoption of modern innovative technological concepts like cloud computing and IoT, thereby boosting the growth of the market in a positive manner. Another key factor driving the growth of the market is the increasing adoption of digital payment methods.
These modules aid organizations achieve the needed compliance with the customer's personal information, ensure strict data privacy regulations, digital transactions against manipulation and exposure, and stringent guard sensitive corporate assets. It finds its application across a wide number of industries including manufacturing, retail, healthcare, government, banking and financial services, technology and communications, utility and energy, and life sciences. The hardware security module applications comprise databases, encryption and tokenization, code signing, identity management systems, public key infrastructures, and time stamping. The report on the global HSM market revealed the growth to be at a notable pace. The valuation of the hardware security module market was further expected to surpass its previous valuation.
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The global hardware security module market has been segmented in terms of type and applications.
By type, the market includes PCLe-based, LAN-based, and USB based types. The USB segment of the market is moving positively and is expected to generate an impressive revenue over the forecast period.
By application, the market comprises Banking and Financial Services, Government, and Industrial and Manufacturing Industry, and others. The rising adoption of HSM solution in the BFSI sector is pushing the overall valuation of the market segment and ensuring its continuous growth.
The global hardware security module market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. The Asia Pacific regional market for HSM is slated to be among the fastest across the globe due to a number of factors. Herein, countries like South Korea, China, and Japan are majorly contributing to the growth of the market. This is due to the shifting inclination towards integrating and strengthening cloud infrastructure. The market in North America is highly mature for hardware security modules and is anticipated grow at a notable pace due to the early adoption of these modules in the BFSI sector.
The global hardware security module market comprises a host of key players. This includes names like Futurex, Hewlett-Packard Enterprise Development LP, Thales E-Security, Inc., Ultra-Electronics, Gemalto NV, SWIFT, Utimaco Gmbh, Atos SE, IBM, Yubico, and others.
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